Dollar index

The yen weakened beyond 100 per dollar for the first time in a month as global demand for the greenback increased amid speculation the Federal Reserve will reduce monetary stimulus while the Bank of Japan sustains it.

The dollar rallied against the majority of its most-traded counterparts as Federal Reserve Governor Jeremy Stein said the central bank may make a decision in September about tapering monetary stimulus.

The Dollar Index rose for a third day, surging after Federal Reserve Chairman Ben S. Bernanke made the case for reducing stimulus as the economy improves, sparking declines in emerging-market assets and commodities.

The Dollar Index fell for a fourth day as a report showed hiring in the U.S. increased in January after accelerating more than previously estimated at the end of 2012, encouraging investors to seek higher-yielding assets.